Club Med to focus on wealthy Chinese travellers after €939m takeover
Guo Guangchang and Henri Giscard d’Estaing will finally be able to enjoy the champagne that has been on ice since the first offer was announced more than 18 months ago. It is now certain that the €939m ($1.1bn) bid by the 47-year-old Chinese billionaire to take control of Club Med has succeeded, with the backing of the firm’s CEO. Their rival in this struggle, Andrea Bonomi, threw in the towel on 2 January. So the longest takeover bid ever seen in Paris has ended with one of France’s most emblematic brands in Chinese hands.